The Web address “t-shirts.com” was bought for an eye-popping $1.26 million by a Minnesota clothing-industry businessman at an Internet auction in Manhattan yesterday.

The buyer at Moniker.com’s DOMAINfest at the Grand Hyatt was Tom Fallenstein, 29. His company, Costumes Galore, will branch out into the shirt business and needed a catchy Web site. “Having a domain name like this is like having a storefront in the middle of Times Square,” he said.

The next costliest domain name was disco.com, which was hustled away for $255,000. Bigapple.com, meanwhile, sold for $70,000.